ADVISORY OPINIONS
Brokerage and Appraisal
Liz Ross is an individual who provides both appraisal and brokerage services. When seeking a new brokerage client, Liz often prepares a market analysis to help establish an asking price for the client’s property. What are Liz’s obligations under USPAP?
Appraisal Review
Dan Williams is an appraiser. He was asked by a client to perform an “administrative screening review” of an appraisal report to determine if a more thorough review is warranted. The client would like Dan to check the math calculations and determine whether the appraisal report complies with the client’s basic content specifications. What are Dan’s obligations under USPAP?
A client has asked Mike Black to perform a rent survey. The client owns the Acme Office Building and wants to know if he is charging enough rent. The client asked Mike to perform this work because he knows Mike is an appraiser; therefore, this valuation service is included in appraisal practice and USPAP applies. How can Mike provide this service in compliance with USPAP?
Appraisal and Market Information
Steven Andrews is a residential appraiser. One day, when attending a backyard barbecue, Steven is approached by a neighbor, who says, “Hey, Steven, I know you’re an appraiser. What do you think my house is worth?” What should Steven say?
Marie Vaughn has a diverse appraisal practice with a specialization in litigation services. She commonly aids attorneys in developing cross-examination strategies for expert witness testimony from appraisers. How does USPAP apply to Marie’s “litigation services?”
USPAP 2008–2009 Edition
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